Rio Tinto is no longer worried about China’s growth
World’s second largest miner Rio Tinto (ASX, LON:RIO) injected some much-needed optimism in the markets Monday by saying that while China’s short-term demand remains difficult to read, the long-term outlook is looking much brighter than a few months ago.
Figures out of China, Rio Tinto’s and most mining companies’ biggest consumer, show that factory output, investment and retail sales all exceeded analyst estimates in August as the property sector picked up pace.We can see an inflection point and we are going to make the most of it — Rio’s chief executive officer Jean-Sebastien Jacques.
Home prices climbed the most in more than six years last month, South China Morning Post reported, quoting data from the National Bureau of Statistics.
Those and other indicators, said Rio’s chief executive officer Jean-Sebastien Jacques in an interview with Bloomberg TV, is pushing his company closer to what he described as “cautiously optimistic” in relation to China.
Link: http://www.mining.com/rio-tinto-is-not-longer-worried-about-chinas-growth/
Quelle: stockcharts.com
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